UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE
ACT OF 1934

               For the quarterly period ended: March 31, 2002

[] TRANSITION  REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
              For the transition period from _________ to _________

                         Commission file number 0-21991

                        ADVANCED GAMING TECHNOLOGY, INC.
     (Exact name of small business issuer as specified in its charter)

        Wyoming                                              98-0152226
(State or other jurisdiction                              (IRS Employer
of incorporation or organization)                   Identification No.)

                      P  O  BOX  46855  LAS  VEGAS,  NEVADA  89114  (Address  of
                     principal executive offices)

                                 (702) 227-6668
                            Issuer's telephone number

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [X] No [ ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practical date: March 31, 2002 21,430,587

Transitional Small Business Disclosure Format (check one). Yes [ ] No [X]

<PAGE>



                                     PART I

ITEM 1.  FINANCIAL STATEMENTS

                         INDEPENDENT ACCOUNTANT'S REPORT


Advanced Gaming Technology, Inc.

     We have  reviewed  the  accompanying  balance  sheets  of  Advanced  Gaming
Technology,  Inc. as of March 31, 2002 and December  31,  2001,  and the related
statements of operations,  and cash flows for the three month period ended March
31, 2002 and 2001.  These  financial  statements are the  responsibility  of the
Company's management.

     We conducted our review in accordance  with  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statement taken as a whole.
Accordingly, we do not express such an opinion.

     Based on our review,  we are not aware of any material  modifications  that
should  be made  to the  accompanying  financial  statements  for  them to be in
conformity with generally accepted accounting principles.

                                                Respectfully submitted


                                                /S/ Robison, Hill & Co.
                                                Certified Public Accountants

Salt Lake City, Utah
May 1, 2002



                                        2

<PAGE>
                        Advanced Gaming Technology, Inc.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)


                                                       March 31,    December 31,
                                                         2002           2001
                                                     -----------    -----------
ASSETS:
Current Assets
Cash and cash equivalents ........................   $    37,998    $    45,709
Prepaid expenses .................................          --            1,000
                                                     -----------    -----------
Total current assets .............................        37,998         46,709


 Property and Equipment, net .....................        51,862         66,862

                                                     -----------    -----------

Total assets .....................................   $    89,860    $   113,571
                                                     ===========    ===========

LIABILITIES AND STOCKHOLDERS' DEFICIT:
Liabilities
Accounts payable and accrued liabilities .........   $     5,206    $    10,000
Notes Payable ....................................     1,451,914      1,367,424
                                                     -----------    -----------
Total liabilities ................................     1,457,120      1,377,424

Stockholders' Deficit:
Preferred Stock-10% cumulative, $.10 par value;
 authorized 4,000,000 shares; issued - nil .......          --             --
Common  Stock - $.005 par  value;  authorized
 150,000,000  shares,  issued  and outstanding
 21,430,587 at March 31, 2002 and
 December 31, 2001, respectively .................       107,153        107,153
Additional paid-in capital .......................          --             --
Accumulated deficit ..............................    (1,474,413)    (1,371,006)
                                                     -----------    -----------
Total stockholders' deficit ......................    (1,367,260)    (1,263,853)
                                                     -----------    -----------
Total liabilities and stockholders deficit .......   $    89,860    $   113,571
                                                     ===========    ===========

                 See accompanying notes and accountants' report.

                                        3
<PAGE>
                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

                                                      For the Three Months
                                                        Ended March 31,
                                                    2002               2001
                                                ------------       ------------
Revenue ..................................      $       --         $     53,701

Expenses
  Corporate Expense/Salaries .............            56,250             56,250
  Depreciation ...........................            15,000             15,000
  Other Operating Expenses ...............             3,935             32,066
                                                ------------       ------------
                                                      75,185            103,316

Loss from operations .....................           (75,185)           (49,615)

Other income (expense)
Interest, net ............................           (28,222)           (16,893)
                                                ------------       ------------

Net income (loss) ........................          (103,407)           (66,508)
                                                ============       ============

Net income(loss) per common share ........      $       (.00)      $       (.00)
                                                ============       ============
Weighted average common
 shares outstanding ......................        21,430,587         25,000,000














                 See accompanying notes and accountants' report.

                                        4

<PAGE>

                        Advanced Gaming Technology, Inc.
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (unaudited)



                                                      For the Three Months Ended
                                                                  March 31,
                                                            2002         2001
                                                         ---------    ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) ....................................   $(103,407)   $ (66,508)
Adjustments to Reconcile Net Loss to Net Cash
Provided by (Used in) Operating Activities:
Depreciation and amortization ........................      15,000       15,000
Change in operating assets and liabilities:
Accounts Receivable ..................................        --         (6,775)
Prepaid expenses .....................................       1,000         --
Accounts payable and accrued liabilities .............      (4,794)       6,846
Notes payable ........................................      84,490         --
                                                         ---------    ---------
Net cash used in operating activities ................      (7,711)     (51,437)

Cash Flows From Investing Activities:
Purchase of property and equipment ...................        --        (23,747)
                                                         ---------    ---------
Net Cash (Used in)Investing Activities ...............        --        (23,747)

Cash Flows From Financing Activities:
Proceeds from debt and notes .........................        --           --
Repayment of debt and notes ..........................        --         (3,374)
                                                         ---------    ---------
Net cash provided by financing activities ............        --         (3,374)

Net change in cash and cash equivalents ..............      (7,711)     (78,558)
Cash and cash equivalents at beginning of period .....      45,709      171,807
                                                         ---------    ---------
Cash and cash equivalents at end of period ...........   $  37,998    $  93,249
                                                         =========    =========
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest .............   $    --      $  17,737









                 See accompanying notes and accountants' report.

                                        5

<PAGE>
                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
              For the Three Months Ended March 31, 2002 and 2001
                                  (Unaudited)

NOTE 1 - HISTORY AND ORGANIZATION

The  Company  was  incorporated  under the laws of the State of  Wyoming in 1963
under the name of MacTay Investment Co. The Company changed its name to Advanced
Gaming Technology,  Inc. in 1991. The Company's executive offices are located in
Las Vegas,  Nevada.  The Company is principally  engaged in the  development and
marketing of technology for the casino and hospitality industry.

NOTE 2 - SUMMARY OF ACCOUNTING POLICIES

The summary of  accounting  policies for  Advanced  Gaming  Technology,  Inc. is
presented to assist in understanding  the Company's  financial  statements.  The
accounting policies conform to generally accepted accounting principles and have
been consistently applied in the preparation of the financial statements.

The unaudited financial statements as of March 31, 2002 and for the three months
then ended reflect, in the opinion of management, all adjustments (which include
only normal  recurring  adjustments)  necessary  to fairly  state the  financial
position and results of operations for the three months.  Operating  results for
interim  periods are not  necessarily  indicative  of the  results  which can be
expected for full years.

A summary of the significant  accounting  policies applied in the preparation of
the accompanying financial statements is as follows:

(a) Principles of Consolidation.  The consolidated  financial statements include
the  accounts  of  Advanced  Gaming   Technology,   Inc.  and  its  wholly-owned
subsidiaries.  All significant  intercompany accounts and transactions have been
eliminated.

(b)  Property  and   Equipment   Property  and  equipment  is  stated  at  cost.
Depreciation is provided in amounts sufficient to relate the cost of depreciable
assets to  operations  over their  estimated  service  lives,  principally  on a
straight-line basis from 3 to 5 years.

     Upon sale or other  disposition  of property  and  equipment,  the cost and
related  accumulated  depreciation  or amortization is removed from the accounts
and any gain or loss is included in the determination of income or loss.

     Expenditures  for  maintenance  and  repairs  are  charged  to  expense  as
incurred.  Major overhauls and betterments are capitalized and depreciated  over
their useful lives.

                                        6

<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2002 and 2001 (Unaudited)
                                   (Continued)



(c) Cash and Cash Equivalents.  For purposes of the Statement of Cash Flows, the
Company  considers all highly liquid debt instruments  purchased with a maturity
of three months or less, as cash equivalents.

(d) Net Loss  per  Common  Share.  The  reconciliations  of the  numerators  and
denominators of the basic EPS computations are as follows:

                           2002                              2001
              ------------------------------     ------------------------------
                          Number      Loss                   Number      Loss
                            Of         per                     of         per
                Loss      Shares      Share        Loss      Shares      Share
Basic EPS:
Loss to Common
Shareholders $(103,407) 21,430,587  $  (0.00)    $(66,508) 25,000,000  $  (0.00)
             =========  ==========  ========     ========  ==========  ========


(e)  Persuasiveness  of Estimates.  The  preparation of financial  statements in
conformity with generally accepted accounting  principles requires management to
make estimates and  assumptions  that affect the reported  amounts of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting period. Actual results could differ from these estimates.

     Certain  reclassifications  have been made in the 2001 financial statements
to conform with the 2002 presentation.



                                        7
<PAGE>


                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2002 and 2001 (Unaudited)
                                   (Continued)



NOTE 3 - OTHER ASSETS
                                                 2002          2001
                                            -------------  -----------
Investment in TravelSwitch     ...........         --            --
                                            -------------  -----------
                                            $      --      $     --
                                            =============  ===========



NOTE 4 - NOTES PAYABLE

Notes Payable consist of the following:
                                                  2002         2001
                                              ----------   ----------

Note payable,  interest at 9%, due in monthly
Payments of $6,200 beginning March 1, 2000.
The note is due in July of 2006.  The note is
convertible  into common stock at a rate
of $.53 per share .........................  $  961,819    $  940,939

Note Payable, interest at Prime plus 2%
Payable to an officer of the company, secured
By all assets of the company ..............     490,095       426,485
                                              ----------   ----------
Net long-term debt ........................  $1,451,914   $ 1,367,424
                                              ==========   ==========

NOTE 5 - INCOME TAXES

As  of  December  31,  2001,  the  Company  had  a net  operating  loss  ("NOL")
carryforward  for income tax  reporting  purposes of  approximately  $25,000,000
available to offset future taxable income. This net operating loss carry-forward
expires at various dates between December 31, 2008 and 2015. A loss generated in
a particular year will expire for federal tax purposes if not utilized within 15
years.  Additionally,  the Internal Revenue Code contains  provisions that would
reduce  or limit the  availability  and  utilization  of these  NOLs if  certain
ownership  changes have taken place or will take place.  In accordance with SFAS
No. 109, a valuation  allowance is provided when it is more likely than not that
all or some portion of the  deferred tax asset will not be realized.  Due to the
uncertainty  with respect to the ultimate  realization  of the NOLs, the Company
established a valuation  allowance for the entire net deferred  income tax asset
of $12,000,000 as of March 31, 2001

                                        8
<PAGE>

                        Advanced Gaming Technology, Inc.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
         For the Three Months Ended March 31, 2002 and 2001(Unaudited)
                                   (Continued)

NOTE 6 - GOING CONCERN

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates continuation of the
Company as a going  concern.  However,  the  Company has  sustained  substantial
operating losses in recent years. In addition,  the Company has used substantial
amounts of working capital in its operations.

In view of these  matters,  realization  of a major portion of the assets in the
accompanying balance sheet is dependent upon continued operations of the Company
which in turn is  dependent  upon the  Company's  ability to meet its  financing
requirements  and succeed in its future  operations.  Management  believes  that
actions  presently  being taken to revise the Company's  operating and financial
requirements  provide  the  opportunity  for the  Company to continue as a going
concern.

NOTE 7 - PETITION FOR RELIEF UNDER CHAPTER 11

The company filed for reorganization under chapter 11 of the U S bankruptcy code
in Las Vegas on August 26, 1998.  Under Chapter 11,  certain  claims against the
Debtor in existence  prior to the filing of the  petitions  for relief under the
federal   bankruptcy  laws  are  stayed  while  the  Debtor  continues  business
operations as Debtor-in-possession. These claims were reflected in the March 31,
1999 balance sheet as "liabilities  subject to compromise."  The bankruptcy plan
was approved June 29, 1999 and became  effective on August 19, 1999. On February
15, 2000 the  bankruptcy  court in the district of Las Vegas  approved the final
decree of the company closing the chapter 11 bankruptcy case of the company.

Pursuant to the plan,  obligations to secured creditors were re-negotiated.  All
remaining  liabilities of the company were fully satisfied  through  issuance of
new common stock.  Unsecured  creditors received 1.88 shares of new common stock
for each $1 of allowed claim. The company issued 25 million shares of new common
stock in  conjunction  with the plan.  The existing  common stock was cancelled.
Existing  shareholders  of the company on the effective date received 1 share of
new  common  stock  for  each  66  shares  of  common  stock  currently   owned.
Approximately 21 million shares were issued to creditors,  existing shareholders
and new investors. A reserve of approximately 4 million shares is maintained for
additional allowed claims.

NOTE 8 FRESH START ACCOUNTING

The  Company  accounted  for the  reorganization  using  fresh-start  reporting.
Accordingly,   all  assets  and  liabilities  were  restated  to  reflect  their
reorganization   value,   which   approximates   fair   value  at  the  date  of
reorganization.

                                       9
<PAGE>

Item 2. Management's Discussion and Analysis

General -

This discussion should be read in conjunction with  Management's  Discussion and
Analysis of  Financial  Condition  and Results of  Operations  in the  Company's
annual report on Form 10-KSB for the year ended December 31, 2001. The Company's
shares of  capital  stock are  registered  under  Section  12 of the  Securities
Exchange Act of 1934. The Company became a reporting  issuer in March 1997. This
quarterly  report on Form 10-QSB and the  information  incorporated by reference
herein contain  forward-looking  statements within the meaning of Section 27A of
the  Securities  Act of 1933,  as amended,  and  Section  21E of the  Securities
Exchange Act of 1934, as amended.  Such statements include,  but are not limited
to,  projected sales,  gross margin and net income figures,  the availability of
capital resources, plans concerning products and market acceptance.

Forward-looking  statements are inherently  subject to risks and  uncertainties,
many of which cannot be predicted  with  accuracy and some of which may not even
be anticipated. Future events and actual results, financial and otherwise, could
differ materially from those set forth in or contemplated by the forward-looking
statements  herein  and any  forward  looking  statements  should be  considered
accordingly.

In August of 1998 the company filed for  reorganization  under chapter 11 of the
U. S.  Bankruptcy Code in the District of Las Vegas.  The company  operated as a
debtor-in-possession  until  June 29,  1999 when its plan was  confirmed  by the
court. The plan became effective on August 19, 1999.

Under the terms of the  court-approved  plan the existing common stock interests
in Advanced Gaming Technology,  Inc were cancelled. The company, as reorganized,
issued new common stock. The plan provided,  generally, that unsecured creditors
of the company  holding  allowed  claims receive 1.88 shares of new common stock
for each $1 of allowed claim. Holders of common stock of the company received 7%
of the new common stock under the terms of the plan.

The company has adopted fresh-start accounting on the effective date of the plan
in accordance  with AICPA  Statement of Position  90-7 " Financial  reporting by
entities in  reorganization  under the  bankruptcy  code" (SOP 90-7).  The fresh
start  reporting  was first  reflected in the  September  30, 1999  Consolidated
Balance Sheet.

Liabilities  subject to compromise  immediately prior to the effective date were
discharged  on the  effective  date.  Depending  on the nature of the claim each
obligation was paid,  exchanged for stock,  discharged,  or carried forward as a
new liability under the terms of the plan.



                                       10
<PAGE>

Results of Operations -

2002 Compared to 2001

Operating  loss for the three months ended March 31, 2002 was $103,407  compared
to a loss of $66,508 for the same  period in 2000.  The  decrease  in  operating
income was the result of a decrease in revenue  from  placement  of Max Lite and
Max Plus units.  There was no revenue in the  current  quarter  from  electronic
bingo  products.  The electronic  bingo units are not competitive due to the age
and quality of the product.  Management  does not expect  revenue from  existing
electronic bingo units in the future.

The Company is currently  pursuing all possible  options  including  the sale of
company assets, merger or dissolution.

Expenses for the first three months of 2002 were $75,185 compared to $103,316 in
the prior year. The improvement is due to a decrease in administrative expenses.
In addition,  $71,250 of the 2002 expenses were non-cash  expenses  representing
depreciation and unpaid salary. Salaries and wages in the amount of $56,250 were
accrued but not paid at the election of management in both years.  Management is
making efforts to minimize cash outlays.

Other  income(expense) for the first three months of 2002 was $(28,222) compared
to $(16,893) in 2001.

                                       11
<PAGE>

Liquidity and Capital Resources -

The Company has a cash balance of $37,998.  The company will require  additional
capital to continue  operations.  There is no  assurance  that  capital  will be
available. Management is considering all options including sale, merger, reverse
merger  or  dissolution  of the  Company.  Any  such  transaction  could  have a
significant negative impact on current shareholders.

Management  has again  elected to defer  payment of salaries and wages until the
second Quarter of 2002.

The Company's debt was restructured  pursuant to the  reorganiztion  plan during
1999. Long-term debt was reduced to two notes totaling $2.6 million. In March of
2000, the company  further reduced long term debt by eliminating A $1.75 million
note.


The company owns a 22% interest in  TravelSwitch,  LLC a Internet travel service
provider.  The Company  does not expect to receive  cash flow from  TravelSwitch
during 2000.






                                       12
<PAGE>

Inflation and Regulation -

The Company's operations have not been, and in the near term are not expected to
be, materially  affected by inflation or changing prices. The Company encounters
competition  from a variety of firms  offering  similar  products  in its market
area. Many of these firms have long standing customer relationships and are well
staffed and well financed. The Company believes that competition in the industry
is based on competitive pricing, although the ability,  reputation and technical
support of a concern is also significant.  The Company does not believe that any
recently enacted or presently pending proposed  legislation will have a material
adverse effect on its results of operations.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other Information

None.

Item 6. Exhibits and Reports on Form 8-K

None.




                                       13
<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                        ADVANCED GAMING TECHNOLOGY, INC.
                                  (Registrant)

                 DATE: May 7, 2002     By: /s/ DANIEL H. SCOTT
                                          ------------------------------------
                                          Daniel H. Scott
                                          President, Chief Executive
                                          Officer and Director


                 DATE: May 7, 2002     By: /s/ DANIEL H. SCOTT
                                          ------------------------------------
                                          Daniel H. Scott
                                          Chief Financial Officer










                                       14